STR 581 Capstone Final

Examination Part Three

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STR 581 Week 6 Capstone 3

1. A company that attempts to lead its industry

in price and convenience by pursuing a focus on
lean and efficient operations is pursuing what
strategy?
Operational excellence
Low-cost leadership
Customer intimacy
Product leadership
2. One of the ways to change the course of a
brand is to modify the product. Under product
modification, ________ adds size, weight,
materials, supplements, and accessories that
expand the products performance, versatility,
safety, or convenience.
technological improvement
feature improvement

 style improvement
quality improvement
3. Marketers need to identify the hierarchy of
attributes that guide consumer decision making
in order to understand different competitive
forces and how these various sets get formed.
This process of identifying the hierarchy is
called ________.
market estimation
brand association
market partitioning

market valuation
4. What is the perceived monetary value of the
bundle of economic, functional, and
psychological benefits customers expect from a

given market offering because of the product,

service, people, and image?
Ultimate service benefit
Complete marketing benefit
Total customer benefit
Total management benefit
5. A valuable result of task environment analysis
with respect to geographic, demographic,
psychographic and buyer-behavior factors is
called
competitor profile
financial position
vendor profile
customer profile

6. The ability to meet humanitys needs without

harming future generations is now a top priority
in most corporate agenda
ethics
sustainability
rules

righteousness
7. Company X's principal strength is its
inbound and outbound logistics system; its
relative weakness, however, is after-sales
service. Its competitor, Company Y, however
is often plagued with lagging shipments and
an inflexible distribution setup. Company Y
remains successful because it maintains a fully
staffed service department and, as a result, the
company is known for its dependable service.
This type of analysis allows them to identify
ways to build on relative strengths and avoid

dependence on capabilities at which the other

firm excels.
Disaggregating
Benchmarking
Past performance comparison
Industry comparison
8. The strategic factor that involves the
beliefs, values, attitudes, opinions, and
lifestyles of persons in the firms external
environment, as developed from cultural,
ecological, demographic, religious,
educational, and ethnic conditioning.
Political factor
Stakeholder factor
Economic factor
Social factor

9. Leaders galvanize commitment to embrace

change through clarifying strategic intent,
building an organization, and
shaping organizational culture
developing a vision
developing a mission
planning strategy
10. How do functional tactics compare to
business strategies?
Functional tactics are more focused on the
general direction of the firm than business
strategies.
Functional tactics are more focused on a
commitment to corporate strategy than
business strategies.

 Functional tactics are more specific than

business strategies.
Functional tactics are more long-term than
business strategies.
11. Under which of the following conditions is
the frequency the most important factor in
media selection?
When introducing flanker brands
When going into undefined target
markets
When launching infrequently purchased
brands
When there is high consumer resistance to
the product

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